European front‑month TTF gas contract fell 2.0% to €49.16/MWh by 05:47 ET, reversing earlier spike.
Prices fell as investors weighed a looming U.S. deadline for Iran to reopen the Strait of Hormuz and Pakistan’s mediation efforts.
ANZ strategists warned tightening inventories make European and Asian markets more weather‑sensitive, with spot demand thinning toward longer‑term contracts.
U.S. President Trump threatened strikes on Iranian infrastructure if Tehran does not agree to halt hostilities and reopen the strait.